Heat oven to 350 degrees F. Grease and flour two 8-inch round cake pans.
Beat together all the ingredients except frosting on low speed in bowl. On high, beat 4 minutes. Pour into prepared pans.
Bake in 350 degree F oven 35 to 40 minutes, until wooden pick inserted in center comes out clean. Cool cakes in pans on rack 10 minutes.
Remove cakes to racks to cool. Fill and stack cakes with frosting; frost outside. Garnish top with golden raisins and walnut pieces if desired. Makes 12 servings.
Beat cream cheese, butter, and vanilla in bowl on medium. Add confectioners' sugar gradually, beating until smooth.